That’s an argument I’ve heard from some SD people in the tech industry, but you can’t assume that it applies to the entire economy. It just doesn’t. Per capita income is up over 20% since 2005 in SD (despite similar claims from tech industry people here that their wages have stagnated). I doubt it’s much different in OC. Citing one senior developer’s salary history doesn’t really prove anything about the economy as a whole, which is what matters.
Regarding rent, again, you are using just one property. Who knows what’s going on with that area, that building, etc. What matters for comparison to OC-wide home prices (which is the matter at hand, if you are claiming an OC housing bubble) is OC-wide rents. I don’t have that data for OC but I have it for SD and like incomes they have increased over 20% since the bubble peak.
